The PSX has taken strict regulatory action against three listed companies for non-compliance and unpaid dues. The move includes mandatory share buybacks to protect minority shareholders.
The Pakistan Stock Exchange ordered buybacks in Haseeb Waqas Sugar Mills Limited, Dadabhoy Construction Technology Limited, and Imperial Limited. These companies failed to clear outstanding financial obligations on time.
According to the PSX, majority shareholders must now provide an exit to minority investors. The buyback process must be completed within 90 days. The final deadline has been set for July 20, 2026.
The PSX also confirmed that it will determine the buyback prices itself. This step is intended to ensure fairness and transparency for all affected investors.
HWQS was flagged earlier for repeated defaults. It had already received a Risk Warning Alert in April 2026. Despite previous warnings, the company did not resolve its compliance issues.
DCTL was penalized due to non-payment of listing fees for two years. The company made partial efforts to comply, including delayed meetings and submission of financial statements. However, operational suspension and audit concerns kept it in the non-compliant category.
IML was also directed to begin the buyback process. The company failed to pay listing and supervisory fees within the extended deadline. That deadline expired on April 20, 2026.
The PSX warned that failure to follow the buyback order will lead to further action. Cases may be referred to the Securities and Exchange Commission of Pakistan. This could result in winding-up proceedings against the companies.
Officials also said that non-compliance may eventually lead to delisting after legal procedures are completed. The action is part of stronger enforcement of market regulations.
The PSX emphasized that all listed companies must follow rules and maintain financial discipline. Investor protection remains a key priority for the exchange.
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Market experts say the decision reflects tighter oversight in the capital market. It also signals that the PSX is increasing pressure on defaulting companies to improve compliance.
